Lovisa (ASX:LOV) to shut 64 stores across Europe and the UK

Company News

by Anna Napoli

Lovisa (ASX:LOV) will shut 64 stores across Europe and the UK as a result of fresh lockdowns introduced by the French and British government.

The company has reopened all metropolitan Melbourne stores following the easing of lockdown restrictions in Victoria.

The jewellery retailer recently posted a 400 per cent increase in online sales for the first 16 weeks of the new financial year.

While comparable sales were down 10.2 per cent an improvement on the 19 per cent fall in the first 8 weeks.

Shares in Lovisa (ASX:LOV) are trading 1.3 per cent lower at $7.40.